ework Algol ack Hammer Company completed the following transactions. The annual accounting period ends December 31 pro Received 5732. from Commerce Bank after signing 12-onth, 7.00 percent, promissory note! une Purchased merchandise on account at a cost of $86,000. (Assume a perpetual Inventory system.) aly 15 paid for the purchase. g. Signed contract to provide security service to a small partent complex starting in Septeer, and collected six oths fees in advance, amounting to 129.500. HI Dec. 31 Determined salary and wages of $51,000 were earned but not yet paid as of December 31 Cignore payroll taxes). Dec. 11 Adjusted the accounts at year-end, relating to interest. Der Adjusted the accounts at year and relating to security service Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation 2. For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change (Assume Jack Herer debt-to-assets ratio is less than 10) Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each listed Wansaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. (Do not found intermediate calculations. Round your answ dollar Enter any decreases to assets, abilities, or stockholders equity with a minus sign. Enter your answers in transaction order provided the problem statement.) ockholders' Equity TI 72.000 Apr. 30 June 6 15 Aug 31 Dec 31 Dec 31 Dec 31 Cash inventories Cash Cash 732000 16 000 600 Notes Payable (short-term) Accounts Payable Thecounts Payable Other Revenue Salaries and Wages Payable 2500 29.500 51 000 INITI and Wages Expense Interest Expense Service Revenue ALTAM (51.000) (29.280 4.000 Other Revenue (34000) Required 2 > Jack Hammer Company completed the following transactions. The annual accounting period ends December 31 Apr. 3e Received $732,000 from Commerce Bank after signing a 12-month, 7.00 percent, promissory note. June 6 Purchased merchandise on account at a cost of $86,000. (Assume a perpetual inventory system.) July 15 Paid for the June 6 purchase. Aug 31 signed a contract to provide security service to a small apartment complex starting in September, and collected six months fees in advance, amounting to $29,500. Dec. 31 Determined salary and wages of $51,00 were earned but not yet paid as of December 31 ignore payroll taxes Dec. 31 Adjusted the accounts at year-end, relating to interest. Dec. 31 Adjusted the accounts at year-end, relating to security service. Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation 2. For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. Assume Jack Hammer's debt-to-assets ratio is less than 1.0.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume Jack Hammer's debt-to-assets ratio is less than 1.0.) (Enter your answers in transaction order provided in the problem statement.) Denominator T Date Effect on Ratio Numerator Apr 30 June 6 July 151 Aug 31 Dec. 31 Dec. 31 Dec 31
